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Steps to Competitiveness Step 2: Strategic Planning Phase 1: Start Up | ||
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Phase 1: Start UpThe Start Up phase is a combination of historical review and analysis combined with forward thinking as to where the business should be in the future. There are two very important steps in this phase and on which the remainder of the process is built. These are the need to:
Now that you have decided to embark on the strategic planning process, in this phase you will be :
Once you have completed these tasks, you will have all the necessary elements to define the timetable for the planning process and assign responsibilities to members of the planning team. You will then move on to Phase II. 1. Assessing the need for Strategic Planning and Defining the Scope of the Assignment With your planning team, you must be able to answer each of the following questions. Proceed if the responses support the planning initiative.
2. Contracting with a Facilitator (optional). An outside party can be the key factor in keeping the discussions on track and enabling everyone on your planning team to participate. However, do not turn the strategic planning process over to an outside party. They can never be as familiar with your business as you and members of your planning team. 3. Setting up and Defining the Role of the Planning Team Clearly state the expected outputs and benefits and define and discuss the timing and the scheduling process with the team so members of the team know where they stand. For larger organizations, several planning sessions may be necessary and preferably held off-site. The planning team must include key decision-makers within the organization and must solicit ideas from throughout the organization. 4. Starting the Process Once you have defined the planning team's role and the scope of your strategic plan, you need to assess the information requirements and gather preliminary intelligence. Downloadable preliminary intelligence gathering templates are available to help you in identifying, collecting and analysing the financial and general corporate information necessary for the planning process. The planning team should also begin thinking about the major problems, threats and opportunities facing the organization. 5. Conducting a Preliminary Business Segmentation It is important that the team clearly identify and describe the distinct categories of products and/or services the organization offers, the markets it serves and where its competitors are active. This will provide a good starting point for the next important step, namely, defining your key market segments. We suggest you segment your business activities according to the major products and/or services offered and the markets served. Downloadable business segmentation templates have been prepared to assist you Another way to identify a preliminary business segment is by grouping distinct sets of services or products which are sold to a specific group of customers or that clearly need specific strategies. 5a. Defining Key Market Segments After completing your preliminary business segmentation, you must assess which services and market segments could be combined in order to develop corresponding business strategies. By defining and if necessary combining key market segments, you will be able to focus your efforts on those markets you should be addressing to optimize the effective and efficient use of resources. |
Created: 2003-03-21 Updated: 2003-12-16 |
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